Turnover jumps on NBL transaction

- POST REPORT, Kathmandu
Turnover jumps on NBL transaction

Jan 3, 2015-

Although the Nepal Stock Exchange (Nepse) ended the week 0.04 points lower, the market turnover  surged, thanks to a huge transaction of Nepal Bank Limited (NBL) shares.

The market turnover surged 72.48 percent to Rs 1.07 billion over the review period, with Nepal Bank alone posting Rs 230.37 million transaction. The number of shares traded almost doubled to 2,789,400 units from 1,420,490.

The market that opened at 903.72 points on Sunday rose 3.51 points on Monday, but dropped 4.9 points on Wednesday. It gained 1.35 points on Thursday to close at 903.68 points.

Ananta Kumar Poudyal, managing director of Online Securities, said investors are not that interested in selling their shares. “They are in a wait-and-see mode. Banks are also making available loans to purchase shares at cheaper interest rates,” he said.

He, however, said the buying pressure from institutional investors is high.  

Five of the nine trading groups posted gains. Insurance companies, up 33.36 points, was the top gainer, followed by hotels, commercial banks, trading and others.

Hydropower, finance companies and commercial banks were among the losers. The manufacturing sub-index remained stable at 1,257.38 points.

The sensitive index that measures the performance of blue chips fell 0.33 points to close at 193.93 points.

Nepal Bank Limited topped in terms of both transaction amount and number of shares traded. Nepal SBI Bank, Nepal Life Insurance (Promoters) Everest Bank and Chilime Hydropower rounded out the top five in terms of the transaction amount.

Published: 04-01-2015 09:50

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